Financing for your Jerr-Dan or Landoll purchase, new or used, is available with one of our first-rate national or regional lenders. Simply print out a Credit Application by clicking on the link
above, complete the Application (and the attached Financial Privacy Notice), and fax both pages to us at (919) 553-2468. We want to work with you to make your purchase as easy as possible. Still have questions? Please call us at (919) 553-4038.
Frequently Asked Questions About
Commercial Credit, Financing and Leasing for Tow Trucks,
Rollbacks and Trailers
Do I need a down payment? Probably.
If you have excellent credit, if have financed other similar
commercial equipment before, and if have been in business
for several years, a commercial lender may offer you a loan
or lease with little or nothing down. In most cases,
commercial lenders do want some down payment--how much will
depend on the particular lender and your credit history.
How about a lease--I've heard of leases with zero
down--is that available on this kind of equipment?
Again, not really--not unless you have the years in
business, very good credit, and existing comparable
commercial credit that the lenders want to see. We'll
work with you to find your best deal, based on your
Which is better, a loan or a lease?
That really depends on a wide range of things, and you may
want to talk to your tax advisor about leases vs.
loans--there are different advantages to each. Even if
you are more inclined to traditional loans, keep an open
mind to both. If your credit is challenged, you may
find that some lenders are a little more inclined to offer
you a lease.
Do I have to fill out a credit application?
Yes, we have to get a written application--that is part of
the better consumer protection laws in place today. A
lot of times we can get a lender to consider your loan based
on just the application. Depending on how long you've
been in business, etc., it is possible that a lender will
request additional information.
What kind of rates are available? This
is almost impossible to answer, since it depends on your
credit, what you are buying, the amount of money involved,
and what the current bank rates are. Our lenders offer
the best rates available today.
How long can I finance my truck?
Again, the answer depends on many factors. We often
see 60 month terms on new trucks, sometimes 66 or 72 months.
Used equipment might qualify for anything from 24 to 60
months, depending on the lender.
Do you have financing available for new or start-up
businesses? Yes, we have some lenders willing
to consider applications from businesses with less than 3
years in business. Generally, the newer the business,
the larger the down payment the lender will require--if you
are just starting a business or have just gone into business
in the last year or two, the lenders will probably want to
see at least a 25% down payment.
Can I get a short term lease? Can I just turn
in the equipment at the end of the lease? The
financing and leases we see advertised for new cars and
light pickup trucks is very different from the financing and
leases offered for commercial and heavy duty equipment.
There are no short-term, temporary leases for towing and
transport equipment, and at the end of the lease term there
is usually a simple purchase agreement for a determined
price--such as $1.00 or $101.00--and the equipment is yours
to keep. Always read and understand the terms of the
loan or lease that you accept.
Do you send my credit information all over the
world? No, we do not. Our approach is
simple--we are going to treat your information like we would
treat our own. First, we'll take a look at your credit
background so that we can determine which of our lenders
will be the best match, then we start with that one.
Generally we approach lenders one at the time for you, not
sending your information to several sources at once.
We want to get you the best deal possible while limiting the
number of lenders who access your information. If we
see that we cannot help you, we'll let you know quickly.
How long does it take to get an approval? These
days, it varies a little. If you have a good credit
history and time in business, it may even be the same day.
More often, it can take a day or two. If there are
some credit issues, a lender may come back and request
additional information to support the application, such as
copies of business bank statements, etc.
Where do I find more information about starting my
new business? How do I form a corporation or LLC?
One great source of information in North Carolina is
the North Carolina Department of Commerce website.
Another good source of information is the corporations
division of the
North Carolina Secretary of State website, where you can
find information about starting your North Carolina
corporation or LLC--it is much easier than you think.
If you are in a different U.S. state, check the website of
your Secretary of State office. Believe it or not,
there is a lot of helpful infomation on the
IRS website--really! Canadian citizens may find
helpful information at the
Industry Canada website.
and understand the terms and conditions of your particular
lease or loan. Beware! There are some
unscrupulous lenders and equipment dealers out there in the